The 2018 FX Global Code Survey results have been released and while, expectedly, the last year saw significantly increased adoption rates amongst firms, there are areas of potential concern for proponents of the Code.
- Cover and Deal? Model Requires Role Disclosure: GFXC – Profit & Loss
- GFXC Releases Initial Views on Anonymous Venue Disclosures – Profit & Loss
- GFXC Publishes Disclosures Report – Profit & Loss
The podcasters discuss the benefit (or otherwise) of closer links between retail and institutional FX markets and the release last week of two reports from Global FX Committee Working Groups on disclosures and “cover and deal” operators using last look. The podcasters also take a look at the GFXC’s annual survey of opinions on the FX Global Code.
There is a sense of entitlement – thanks in part to the marketing of the liquidity providers themselves – that “there should always be a price for me”. Most of the time there is, of course, but occasionally there isn’t and normally this is around liquidity events.
CME Group remains confident in existing market structure amid the debate about speed bumps.
The UK could lose a slice of its valuable clearing industry to the US if the EU tries to win advantage by reneging on G20 promises to avoid breaking up financial markets.
UK clearinghouses LCH, ICE Clear Europe and LME Clear have been granted approval to continue providing clearing services in Europe in the case of a ‘no-deal’ Brexit, Europe’s financial regulator has confirmed.
A mass migration of bilateral swaps contracts from London to new European Union hubs is effectively on hold until after the March 29 Brexit date, as regulatory relief protecting transferred contracts from costly clearing and margin rules only becomes effective from the exit date and is conditional on a no-deal scenario.
As the United Kingdom’s Brexit crisis deepens, Goldman Sachs and JP Morgan have differing views of the ultimate outcome but the two titans of Wall Street agree on one thing: They don’t believe there will be a no-deal Brexit.
As interest in cryptocurrency trading refuses to wither, despite a bearish year, traders are increasingly calling for institutional-grade tooling from traditional markets to further develop the asset class.
Bitcoin’s high-volume move to one-month highs could be the start of a stronger rally to above key resistance near $3,760.
Despite a growing mainstream interest in the use of crypto assets and blockchains as a way to replicate and represent securities, some of the earliest innovators say sky-high expectations may not be in line with reality.
Kate Lowe, global head of trade services at State Street, talks about how new margin requirements could shape buy side behaviour in the FX market, and why 2019 is likely to be a “staging” year for many of these firms.
Trading on SGX’s FX futures hit an all-time record in January, with $105 billion in notional value and 1.87 million in aggregate contracts traded.
Two FX traders at Goldman Sachs have left the firm to set up a sports betting site called Sportstack.
Fenics Software has updated its Kace Pro technology to allow owners to stream foreign exchange options prices to internal and external clients, as well as execution venues, and third-party and single-dealer platforms.
Sterling drifted higher on Monday after registering three consecutive weeks of losses as investors waited for the outcome of Brexit talks between Britain and the European Union.
The euro rose past $1.13 and riskier currencies like the Australian dollar strengthened on Monday as optimism over a breakthrough in US-China trade war talks encouraged investors.
The euro and the dollar are locked in a tug of war, each bearing challenges around economic growth, central bank policy, and political risk. The yen is also in thrall to US monetary policy, though investors such as UBS Wealth are increasingly turning to the view that it is undervalued and due a rally.